Wednesday, April 1, 2009

The ice melted a bit...

I just finished checking Fidelityasap and Recon Trust for Ventura County for trustee sales. For Fidelityasap there were 5 homes taken back in the last 7 days before today. Today 10 homes were taken back in the county. On Recon Trust there were 6 trustee sales in the last 30 days in Ventura County, today there were 3 sales.

There were still a lot of sales getting postponed but it is a tentative sign that new inventory will be coming soon and the moratorium is over.

Update (04/02/09): The priority posting site was down yesterday. Checking today & yesterday there were 11 trustee sales completed for Ventura County. In the 15 previous days before that there were 20 sales.

If there are 20 or so sales completed a day in the county that is still above the rate of absorption for REOs we are seeing currently in the market.


Rob Dawg said...

Back to the bene! That's got to kill the neighborhood comps.

Effective Demand said...

There are a lot more higher end properties waiting to be foreclosed on and those markets are more illiquid. Pricing will be interesting.

Rob Dawg said...

I'm friends with "Hadley." Next time we have lunch at Mrs. Olsen's I'll pick his brain.

On the beach. What I see is a whole bunch of people who bought even before the bubble but still paid $400-$500k for the Whitecap type houses and usually refied $150k out for improvements and a vacation. Now they find they cannot handle a $600k mortgage even if their house may be worth $800k. Don't even think of trying to find $4k/mo "renters."

djviking said...

oh goody 400-500,000 short sales on the beach!